Aluminum prices on the London Metal Exchange hit a 13-year high Monday, extending a year-long vertical ramp amid supply risks in Guinea and alumina refining woes in China and Europe.
The benchmark contract on the LME climbed nearly 1%, touching its highest level since 2008 at $3,000 per ton. Prices have jumped 50% this year and 15% in the last three weeks. Aluminum prices have been supported by production curbs in Chinese smelting regions, often to alleviate the strain on the power grid. The latest price surge comes from a military coup in Guinea last Monday sparked concerns over the […]
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